Fonar Corp (FONR)

[dmlabuda]

Daily Chart Analysis - Good Day to Take Profits (in my opinion). After a nice long run up, the market is now extremely Overbought and showing signs that a significant price correction is due. The Fibonacci scale on the chart (below) shows that a normal correction back to the $3.75 to $4.25 price range is very likely now. That is certainly a profit worth capturing! Will the price continue on to $20/share? Maybe? Maybe not! We won't see evidence of that until after this much needed price correction unfolds, the market become again Oversold and subsequent support is seen within the Fibonacci range.

FONR - Daily Candlesticks